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Bitcoin, the first-ever cryptocurrency, has experienced a significant surge in value in recent years. It's easy to buy and offers greater flexibility as you send and receive money anywhere in the world.
Pioneering cryptocurrency: Bitcoin is the original and most established cryptocurrency.
Limited supply: With only 21 million coins, Bitcoin's scarcity can drive its value.
Store of value: Bitcoin is considered by some as digital gold, guarding against inflation.
Decentralisation: Operates without central control, offering security and independence.
Inflation hedge: Viewed by some as an asset like gold, safeguarding against inflation-driven currency devaluation.
Encryption: Transactions feature robust encryption and irreversible properties, fostering a decentralised financial ecosystem.
Bitcoin, or BTC, is the first and most popular cryptocurrency traded between individuals. Bitcoin trading is a type of peer-to-peer transaction where digital cash is exchanged without the need for a bank or other third party. While Bitcoin is the cryptocurrency many traders and non-traders recognise, its supply is limited, as only 21 million tokens will ever be created.
Despite its mass success and online growth, the identity of Bitcoin’s creators remains a mystery. One name that traders are familiar with is Satoshi Nakamoto, which many believe is a pseudonym for the inventor or investors behind the creation of the cryptocurrency, who choose to be anonymous. Due to a lack of personal information and limited communication, the identity of Satoshi Nakamoto was never revealed. Satoshi Nakamoto’s involvement in the birth of Bitcoin began in 2007 when he first developed the software and ended in 2010.
Wondering where to buy Bitcoin in Australia? Buying Bitcoin in Australia is fast and easy with BTC Markets. Traders looking to buy Bitcoin will need to set up an account with BTC Markets and provide the required information so we can verify your identity. When approved, traders can transfer funds to their account via Osko, direct deposits or cards on the 'Deposits' page. Once their account is funded, traders can use the 'Buy/Sell' page to buy BTC.
BTC Markets is one of Australia’s largest and most liquid crypto exchange platforms, with more than 333,000 traders. We use straightforward tools and processes to give traders the assistance they need to buy and sell BTC in Australia safely and efficiently. Traders can choose from various order types that best suit their investment strategies and set up recurring transactions to streamline their portfolios. Sign up to BTC Markets to start trading Bitcoin today.
Bitcoin miner fees are cryptocurrency amounts provided as incentives to miners for confirming transactions. These fees are not received by BTC Markets but go directly to the miners who secure and confirm transactions by adding blocks to the blockchain. The miner fees can vary based on network congestion and the size of your transaction.
We support instant OSKO payments and individual BSB and account numbers.
Australian Bitcoin exchange prices are instead determined by several factors, including but not limited to:
This will depend on how much of a Bitcoin you intend to buy. Depending on the time of your purchase, one Bitcoin can cost tens of thousands of dollars. Many traders opt to purchase a fraction of a Bitcoin, such as one-third or half of a coin. This will depend on the time you purchase Bitcoin and the amount you want to purchase. Like all markets, the price of Bitcoin fluctuates.
The smallest unit of Bitcoin is a Satoshi, which is equal to one hundred millionth of a Bitcoin. Similar to $1 in fiat currencies may be divided into smaller units like 50 cents, 20 cents, 10 cents, etc.
Satoshi Nakamoto understood that for a currency to function as a medium of exchange, it must be simple to divide into smaller amounts that can be used to pay for all products and services in an economy.
When looking to purchase Bitcoin, ensure that you use a reputable Australian-based crypto exchange. Look for robust security measures, regulatory compliance, and positive user reviews. Only invest what you can afford to lose and diversify your portfolio. Exercise caution and make informed decisions based on individual risk tolerance.
We also encourage our clients to complete due diligence and seek relevant professional advice on any project they are investing in. Our website provides security tips, that outline common signs of phishing to helpful resources to prevent cybercrime.
Yes, traders can withdraw and convert their Bitcoin to cash in several ways. Depending on how traders wish to use their Bitcoin, the cryptocurrency can be sold for AUD and transferred directly to their bank account.
Alternatively, traders can withdraw their Bitcoin through the BTC Markets mobile app. Simply log into your account via the website, select Account and Withdraw. You will then be prompted to select your withdrawal type — AUD or crypto. Please note that if you opt to cash out your Bitcoin through cryptocurrency, you must enter the correct blockchain address.
Following The Great Recession in 2008, a group of individuals known only as Satoshi Nakamoto released a whitepaper addressing how money was currently being controlled and what level of trust should be required when handling an individual's funds. The whitepaper argued that banks and other financial institutions disrupted transactions and required unreasonable costs.
Bitcoin was presented as a practical solution to this issue, as transactions could be conducted between individuals without the need for a third party. It’s argued that Bitcoin was created out of distrust of banks and the overall financial ecosystem. The first blockchain was released in 2009, with the first test transaction occurring shortly after its launch. From there, Bitcoin exchange has become one of the most intriguing ways to purchase goods and services.
